Annuity or life insurance? You're not supposed to have your 403(b) money in a life insurance contract. What is your question?
Posted: Sat Apr 23, 2011 10:25 am Post Subject:
It seems as if you're pointing at a health insurance program, but then as Max pointed out, it's also a bit different. Can you share a bit more about the nature of benefits that this program offers? Make sure that you post everything within the message body instead of the post subject.
Posted: Sat Apr 23, 2011 02:09 pm Post Subject:
Steven . . . a 403(b) plan has nothing to do with health insurance. It is a retirement plan for teachers and other employees of non-profit and/or charitable organizations. Money is typically saved inside an annuity or mutual funds, but is not supposed to be paying for life insurance inside the plan.
Americo recently lost a class action lawsuit for doing exactly that . . . siphoning off retirement money to pay for life insurance. They now have to pay million$ back to those teachers from whom they stole it
Posted: Fri Apr 22, 2011 05:09 am Post Subject:
Annuity or life insurance? You're not supposed to have your 403(b) money in a life insurance contract. What is your question?
Posted: Sat Apr 23, 2011 10:25 am Post Subject:
It seems as if you're pointing at a health insurance program, but then as Max pointed out, it's also a bit different. Can you share a bit more about the nature of benefits that this program offers? Make sure that you post everything within the message body instead of the post subject.
Posted: Sat Apr 23, 2011 02:09 pm Post Subject:
Steven . . . a 403(b) plan has nothing to do with health insurance. It is a retirement plan for teachers and other employees of non-profit and/or charitable organizations. Money is typically saved inside an annuity or mutual funds, but is not supposed to be paying for life insurance inside the plan.
Americo recently lost a class action lawsuit for doing exactly that . . . siphoning off retirement money to pay for life insurance. They now have to pay million$ back to those teachers from whom they stole it
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